ProFrac (NASDAQ:ACDC) Shares Up 7.2% – Time to Buy?

ProFrac Holding Corp. (NASDAQ:ACDC)’s share price traded up 7.2% on Tuesday . The stock traded as high as $6.49 and last traded at $6.4750. 742,796 shares were traded during mid-day trading, a decline of 43% from the average session volume of 1,313,222 shares. The stock had previously closed at $6.04.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACDC. Wall Street Zen upgraded ProFrac from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Zacks Research raised shares of ProFrac from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 21st. Morgan Stanley increased their target price on shares of ProFrac from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 15th. Weiss Ratings restated a “sell (d-)” rating on shares of ProFrac in a report on Friday, March 27th. Finally, UBS Group restated a “positive” rating on shares of ProFrac in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $5.83.

ProFrac Stock Up 7.4%

The company has a current ratio of 0.81, a quick ratio of 0.56 and a debt-to-equity ratio of 1.08. The firm’s 50 day simple moving average is $5.86 and its 200-day simple moving average is $4.83. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -2.95 and a beta of 1.44.

ProFrac (NASDAQ:ACDC) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.07). The company had revenue of $436.50 million during the quarter, compared to analyst estimates of $402.95 million. ProFrac had a negative net margin of 18.97% and a negative return on equity of 33.18%. Equities analysts expect that ProFrac Holding Corp. will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of ProFrac

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in ProFrac by 7,241.7% in the second quarter. EverSource Wealth Advisors LLC now owns 3,524 shares of the company’s stock worth $27,000 after acquiring an additional 3,476 shares during the period. Raymond James Financial Inc. bought a new stake in ProFrac during the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new stake in ProFrac during the 3rd quarter valued at $45,000. Price T Rowe Associates Inc. MD bought a new position in ProFrac in the 4th quarter worth $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ProFrac in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 12.75% of the company’s stock.

ProFrac Company Profile

ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States. It operates through three segments: Stimulation Services, Manufacturing, and Proppant Production. The company offers hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services and complementary products and services to upstream oil and natural gas companies engaged in the exploration and production of unconventional oil and natural gas resources. It also manufactures and sells high horsepower pumps, valves, piping, swivels, large-bore manifold systems, and fluid ends.